Condia
While Revolut is inching into Africa from the outside, Afriex is flipping the script, heading out from Nigeria and planting its flag in Asia’s biggest remittance markets.
The Lagos and San Francisco-based fintech has expanded to India, China, and Pakistan, three of the top five remittance destinations globally.
The company is waiving fees on transfers above $10, betting that a smoother, cheaper experience will drive adoption among African traders and migrants already transacting across those corridors.
Context: Cross-border payments are booming, thanks to rising migration, global trade, and the remote work economy. Asia-Pacific alone handled 26% of the $190 trillion in cross-border transactions in 2024, with India topping the remittance charts with $120 billion in 2023.
Zoom out: Afriex isn’t alone in this global charge. Flutterwave made a move in India last year through a local partnership. LemFi also raised $53 million earlier this year to fuel its Asia and Europe push.